Proxy adviser ISS recommends opposing Aryzta's capital hike plan

“The company’s largest shareholder, Cobas Asset Management (14.5 percent), has asked the board to convene an extraordinary general meeting to vote upon a package of alternative measures. In view of events leading up to this meeting, ISS has recommended to oppose the board’s proposal at this time,” ISS said in a statement on Tuesday.

Cobas Asset Management said on Monday it would support a 400 million euro capital increase. ($1 = 0.8641 euros) (Reporting by Oliver Hirt, Writing by Silke Koltrowitz; Editing by Michael Shields)